The Academy Awards are known for their showstopping style moments with celebrities decked out in designer threads — but if it were up to the stars, the award ceremony would look a lot different.

This week, the female nominees sat down with PEOPLE for an exclusive photo portfolio and video interviews, in which they revealed what they really wish they could wear to the Oscars while participating in The Cagle Exercise withPEOPLE and Entertainment Weekly Editorial Director Jess Cagle.

Perhaps the wildest potential Oscar look came from Nicole Kidman, who joked she wanted to put a dog collar on director Lars Von Trier.

“I remember being at the Cannes Film Festival and Lars Von Trier wanting me to put a dog collar on him and leading him out on a leash,” she said. “If it was socially acceptable, it would be funny to do that.”

The Oscars will air live on ABC from the Dolby Theatre at the Hollywood & Highland Center on Sunday, Feb. 26, at 8:30 p.m. ET/5:30 p.m. PT.